PreAxia Health Care Payment Systems Inc. to Rely on Temporary Regulatory Filing Relief

Calgary, Alberta--(Newsfile Corp. - August 28, 2020) - PreAxia Health Care Payment Systems Inc. (OTCBB: PAXH) ("PreAxia" or the "Company") announces that pursuant to Alberta Securities Commission Blanket Order 51-517 ("Blanket Order"), it is postponing the filing of its annual financial statements, management's discussion and analysis, and officers' certificates for the year ended May 31, 2020 (the "Annual Filings"), due to delays related to the COVID-19 pandemic.

The temporary exemptive relief granted by the Blanket Order allows PreAxia to delay filing the Annual Filings required by National Instrument 51-102 by up to 45 days.

PreAxia estimates that it will file the Annual Filings on or before October 15, 2020. Until the documents are filed, Company management and insiders are subject to an insider trading blackout policy that reflects the principles in section 9 of National Policy 11-207 (Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions).

There have been no material business developments since the date of the last interim financial reports filed on June 4, 2020.

For further information, please contact:

Tom Zapatinas
President/Chief Executive Officer
Telephone: 403 850-4120

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